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Update: Mountain BizWorks is no longer accepting new applications under the SBA Paycheck Protection Program (PPP). However, the PPP program nationally still has funding available with many participating lenders, some of which are listed below. Mountain BizWorks was extremely grateful to partner with Dogwood Health Trust, our community college small business centers, area banks, and others to expand access to PPP loans for over 300 WNC small businesses and nonprofits. Our focus now is helping you access PPP through another lender and helping those that have obtained PPP maximize their loan forgiveness.
What is the PPP?
SBA Paycheck Protection Program (PPP) loans provide short-term cash flow to help small businesses maintain payroll. PPP loans may be eligible for forgiveness if the funds are used for payroll costs, interest on mortgages, rent, and utilities as directed by the SBA.
Who is eligible?
Small businesses and 501(c)3 nonprofits with fewer than 500 full- or part-time employees are eligible for PPP loans. If you need help keeping your employees on the payroll, we encourage you to apply for this funding.
Where do I apply?
Mountain BizWorks is no longer processing PPP applications, however many lenders locally and nationally are. We encourage you to check first with your primary bank. If that’s not a resource, here are a few possible sources to consider applying at HomeTrust Bank via Kabbage, Fundera, PayPal, Ready Capital, or any of these NC SBA lenders.
How does the loan forgiveness work?
We recently released a Guide to Maximizing Your PPP Loan Forgiveness, to help small businesses ensure they’re taking all the right steps to make the most of this program and don’t end up owing money they hadn’t planned for. PPP loan program guidelines are still coming out regularly, so please check the document link often to ensure you get the most current information.
More details for Mountain BizWorks borrowers coming soon.
Need help navigating the forgiveness process?
We understand navigating PPP and the other available COVID-19 response resources can be challenging. Our Disaster Funding Specialists are available at no cost to answer your questions about PPP forgiveness.
Other Federal, state, and locally based financial resources may be more appropriate or may complement the resources available through this program. For more information on other financial resources, visit our COVID-19 Rapid Recovery Financing Options page.
If you need additional assistance, please visit our COVID-19 Funding Help Center.
Latest news & updates
June 12, 2020 – What the PPP Flexibility Act Means for Small Business Owners
Weekly webinar series
Every Wednesday at 3:00 pm, we are hosting a one-hour webinar to update you on the latest program developments, review key information, and answer any questions you may have.
Can’t make it? View recordings of our past PPP Forgiveness webinars.